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Whether best judgement can be done by assessing authority totally arbitrarily i.e. based on his guess work?

Dated:- 2-4-2015 - 17 - Assessment No. There are many judgements to support that the assessing authority can not arbitrarily make the best judgement. In the case of Kachwala Gems [2006 (12) TMI 83 - SUPREME COURT], it was held that it is well settled .....

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arily, but there is necessarily some amount of guess work involved in a best judgment assessment, and it is the assessee himself who is to blame as he did not submit proper accounts. In the case of Dhakeswari Cotton Mills [1954 (10) TMI 12 - SUPREME .....

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